Netflix, Baidu, Apple, Facebook: Tech Premarket

NEW YORK ( TheStreet) -- Netflix ( NFLX - Get Report) was a big loser in premarket trading on Tuesday, tumbling 3.56% to $70.90, reversing some of its gains from Monday.

Shares of the Internet video provider rose 10.46% on Monday after Morgan Stanleyupgraded the company to "overweight" with an $85 price target.

The Los Gatos, Calif.-based firm was also one of the most active premarket Nasdaq stocks on share volume of 115,076.

Baidu ( BIDU - Get Report) was another loser in premarket trading. Shares of the Chinese Internet giant were off 3.97% at $109.75 on share volume of 82,926 after the company received a downgrade from Credit Suisse.

Chip giant Intel ( INTC - Get Report) was off 1.29% to $22.22 before market open.

Shares of IBM ( IBM - Get Report), which announced a cloud partnership with AT&T ( T - Get Report) on Tuesday, gained 0.42% to reach $210.70.

Both companies will sell the new cloud service using private networks rather than the public Internet. Targeted at Fortune 1000 companies, the service combines AT&T's virtual private networking with IBM's SmartCloud Enterprise+ technology.

During a talk with TheStreet right after its earnings report, CFO Tarek Robbiati talks about how HPE is trying to position itself as cloud infrastructure adoption continues, and what kind of boost it's getting from lower memory prices.